Apple Inc. (NASDAQ:AAPL) Shares Acquired by First American Trust FSB

Posted by Defense World Staff on Nov 4th, 2023

First American Trust FSB raised its holdings in shares of Apple Inc. (NASDAQ:AAPL – Free Report) by 0.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 202,204 shares of the iPhone maker’s stock after acquiring an additional 335 shares during the quarter. Apple makes up 5.4% of First American Trust FSB’s investment portfolio, making the stock its biggest holding. First American Trust FSB’s holdings in Apple were worth $39,222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Westwood Management Corp IL grew its stake in Apple by 190.0% during the 2nd quarter. Westwood Management Corp IL now owns 98,882 shares of the iPhone maker’s stock worth $19,180,000 after buying an additional 64,790 shares during the last quarter. Janney Capital Management LLC purchased a new position in Apple during the 2nd quarter worth approximately $22,251,000. Michael S. Ryan Inc. purchased a new position in Apple during the 2nd quarter worth approximately $1,362,000. Janney Montgomery Scott LLC purchased a new position in Apple during the 2nd quarter worth approximately $949,147,000. Finally, Grace & White Inc. NY grew its stake in Apple by 29.0% during the 2nd quarter. Grace & White Inc. NY now owns 19,429 shares of the iPhone maker’s stock worth $3,769,000 after buying an additional 4,370 shares during the last quarter. 58.51% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

AAPL has been the topic of a number of research reports. Piper Sandler Companies raised their price target on Apple from $180.00 to $220.00 and gave the stock an “overweight” rating in a research note on Monday, July 31st. Barclays lowered their target price on Apple from $167.00 to $166.00 and set an “equal weight” rating on the stock in a research note on Monday, October 30th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $195.00 target price on shares of Apple in a research note on Monday, October 9th. Bank of America reiterated a “neutral” rating and issued a $173.00 target price on shares of Apple in a research note on Tuesday, October 24th. Finally, Citigroup reiterated a “buy” rating and issued a $240.00 target price on shares of Apple in a research note on Friday, August 4th. Ten investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company’s stock. According to MarketBeat, Apple has an average rating of “Moderate Buy” and an average target price of $197.82.

View Our Latest Research Report on AAPL

Insider Activity

In other news, SVP Deirdre O’brien sold 15,419 shares of Apple stock in a transaction on Monday, August 7th. The stock was sold at an average price of $178.56, for a total value of $2,753,216.64. Following the completion of the sale, the senior vice president now owns 136,445 shares of the company’s stock, valued at $24,363,619.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Apple news, CFO Luca Maestri sold 31,685 shares of the business’s stock in a transaction dated Monday, October 9th. The stock was sold at an average price of $178.69, for a total transaction of $5,661,792.65. Following the completion of the sale, the chief financial officer now owns 107,661 shares of the company’s stock, valued at $19,237,944.09. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Deirdre O’brien sold 15,419 shares of the business’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $178.56, for a total value of $2,753,216.64. Following the sale, the senior vice president now directly owns 136,445 shares of the company’s stock, valued at approximately $24,363,619.20. The disclosure for this sale can be found here. Insiders sold a total of 455,004 shares of company stock valued at $79,238,767 over the last quarter. Company insiders own 0.06% of the company’s stock.

Apple Price Performance

Shares of NASDAQ:AAPL opened at $176.65 on Friday. The company has a market cap of $2.76 trillion, a P/E ratio of 29.69, a P/E/G ratio of 2.42 and a beta of 1.30. The company has a quick ratio of 0.92, a current ratio of 0.98 and a debt-to-equity ratio of 1.63. Apple Inc. has a 52 week low of $124.17 and a 52 week high of $198.23. The business has a fifty day simple moving average of $176.84 and a 200-day simple moving average of $179.30.

Apple (NASDAQ:AAPL – Get Free Report) last announced its quarterly earnings data on Thursday, November 2nd. The iPhone maker reported $1.46 EPS for the quarter, beating analysts’ consensus estimates of $1.39 by $0.07. The business had revenue of $89.50 billion during the quarter, compared to the consensus estimate of $89.34 billion. Apple had a return on equity of 164.92% and a net margin of 24.68%. The business’s revenue for the quarter was down .7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.29 earnings per share. Equities research analysts forecast that Apple Inc. will post 6.05 EPS for the current year.

Apple Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 16th. Stockholders of record on Monday, November 13th will be given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend is Friday, November 10th. Apple’s dividend payout ratio is currently 16.13%.

Apple Company Profile

(Free Report)

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.